In Many States, an Operating Agreement Is Required for a Limited

question 30

True/False

In many states, an operating agreement is required for a limited liability company to exist.​

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Definitions:

Old Business

Previously discussed topics or unfinished items of discussion in meetings that are brought up again for resolution.

Formal Minutes

The official record of the discussions and decisions made during a meeting, prepared in a structured and standardized format.

Institute of Internal Auditors

An international professional association that serves as the global voice and advocate for the internal audit profession, promoting standards and education.

Motions

Formal proposals presented for debate or decision in a meeting or legislative assembly.